the summer is going to be like this at least for the first part of it. >> we'll see if those ipos are going again. >> if you don't get out the end of june, it goes to sleep. >> that does it for "closing bell" everybody, we'll see you monday, "fast money" begins right now. >> i am melissa lee. our traders on the desk. tonight on "fast," apple is closing aing at a record high plus, a game changer for the crypto universe of bitcoin exchanges is now accepting cash for crypto he'll join us to explain what it could mean we start off after weeks of trade and turmoil of euro crisis stocks are still standing strong the dow is surging nearly 200

points today the u.s. economy seems to be on fire do you keep on betting on america and specifically do you keep on betting things that have been working so far this year. >> it is not on fire anymore apparently nothing is on fire itextinguished >> the answer is question. energy and refineries have worked for the last nine months. levered energy played. a tech play that we talked about it when it was andhanded down to amd because of crypto. they came back and they upgraded the stock and a week and a half ago cal yllan upgraded it. i still think it is further upside >> dan, the s&p acted really well in the face of a lot of

really bad news all over the globe. you this i nk of what's going on we saw money coming out of em and weak data in europe. the s&ps have been nicely cold datco consolidated half that game came today. whatever you think of the global growth the u.s. stock market is discounting on a whole heck of a lot which is 10% to my eye some very narrow breath among things they have been working for years now i am just going to eye ball it and the s&p is telling us that things may not be as great as the data is showing us here and the others stuff around the world may be reasons to take part >> the fact the matter is we

have been a tight range since february it has been in the phase of all that's going on, this week is one example and we are flat. still, we have not gone anywhere >> the tight trade, i agree of everything you have been saying, the tight range is 2742 down here as far as energy, i don't like the ep plays i like valero. what they refine is going up the cost of what their input is going down for me is crude. >> it was for may 7th, he did what he got out of the iranian deal and it spiked and it hit a wall. oil is coming in and exxon are coming in and refiner? maybe okay >> if i look at the market and we start at the year and it was this global synchronized growth. that's done. so now if you're a global

investor, look around the world and what's the best economy around the world it is the u.s. now, could we turn down and could a lot of things happen absolutely the u.s. economy is probably the brightest out there, therefore, i think until proven otherwise, you got to stay with u.s. stocks >> we talked about fang and we know that's done i have been two to conferences and this week, when luke at private companies, i heard lyft and uber a, the list goes on and on the bullishness of their business and the opportunity and the ability to disrupt a lot of these companies. >> i don't think so. i think a lot of these people think of very long-term. i heard them yesterday they're a private company. they're not thinking of quarter to quarter and they're thinking of what's next and how do we redefine digital music space

to me is a lot of optimism in the private tech world and i don't think we see it in the tech names that make up three or four millions. >> what they run for is unbelievable, large caps tech. have the tail wind of tax policies but also large cap tech that's counter intuitive to me >> just to put a ball on this. i got to tell you, deutsche bank, it has not gotten better the market is saying no, there is not i was around for this and i think we all were. there were not a lot of people saying -- 1929 >> yeah. >> the next one after. nobody was saying about that

with lehman brothers >> the problem that we face here with the financial collapse was that it is 30-1 leverage i don't think they'll ever get that bad i know they won't ever get that bad. it will be something that we are not waiting for. i think deutsche bank is so telegraphed that it may hurt the markets. >> let's put it aside and we don't know if that's going to happen or not. financials here in the united states they did not do well on a week where s&p and the nasdaq both bounced >> right >> as if nothing happens this week, financial is still in the hole >> bonds did not do anything either >> is there any type of exposure to the european banks depending on how bad it is i am not convinced of that financials are okay and some that are doing all right and some good pockets in the financials if i am looking, i would rather

be in tech to me that's where the growth stories are going. >> the spread between the two and ten and that's not a great scenario right now that's big case in 2017 for owning the banks and you this iou think of the systematic issues i think a lot of people were saying of the same thing of bearstein. >> we just don't know. this time of the market has a betting and the government is going to bail out. what's the solutions >> you print a bunch in europe >> on trading bases, we talked about it the other night, the regional bank index, up 7% if you want to buy the banks, you stay in the kre.

>> is it a break down on the chart. hi carter. >> it is a perfect standoff. >> it was a very much risk-off week financials are down. investing in growth are defensive and growth is what won. we have this epic run in december and january and record in flows and part of retail investors and etfs and we have this epic plunge if we were to draw some lines into this and lest get rt's getf that and a series of lower highs and higher lows as you work into the apex we have been below twice and above and we are stuck here. when we started today. the market was at the exact midpoint between the high of friday and friday the february

9th. pull this back and watch this wedge as it forms on the long return chart and now let's add in the trend line. >> the tension and the standoff continues but again transport is down this week and industrial is down this week and financial is down and global financial is really tanking and properly so and classically in defense area. if we move it this way and put in the rest of the year. the real question i think is this did we discount by that epic move in december and january all of the tax cuts and all of the fact that the earnings are coming in at 25% revenues at 11:00 and best in years and unemployment and etcetera and etcetera, i believe that we did and the postseason is as good as any and the highs will stand at the highs for the year and the

best bet is we got a whole lot of nothing for the rest of the year or of course, risk that we ultimately under cut >> i can't wait for carter to come over to explain that. >> he's not coming over. >> i do have a question for you, carter does technology and the chart looks as good as the action. >> it is good and you guys covering all of them it is small cap financials and it is tech in particular and large cap tech the issue is do you stick with that the small cap of premise does not help the market at all the entire russell 2000 is the same value it all gets down to whether the super cap or marketing can continue to move up. >> carter, we'll see you in a little bit >> that's devastating. >> large cap tech, which ones? >> netflix, right?

you have to stay there and amazon apple so all these names that you think about and facebook, i am a little undecided and on defense because i think these privacy issues are still going to resonate a little more. you may have had all the damage completely done and we'll feather through some headlines and i would be careful with the facebook names and the other ones i think it is quasi >> now it is a taiwan semi that's the point and you can't get enough of them not only do bitcoin monitor wants them but apple wants them.

t taiwan semi. >> i think that's exactly where it is going. >> omnivocoming up, apple nearia appears to be inevitable trillion dollar cap but when will it get there in a game changer of of the crypto universe, the ceo is accepting crash for all points this could be huge, we got the ceo of that exchange he'll join us shortly. it is a jack attack. his empire is growing by the minute if you miss the rally, don't worry, we'll tell you how to chase the stock without spending a dime we are live at times square at new york city, much more faster than this. "fast money."

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moved almost exactly with bitcoin. this is a huge big game changer, why? >> it is huge because you can differentiate between crypto you think of the mechanics of it if you want to buy all coins, gou you go to coin base and it goes up a little bit. let me go buy something there. the only way to get money into that has been to send bitcoin in there. there is a tight correlation in between. now you are starting to price things in u.s. dollars and send it to bittrex which changes the game i think >> we are bringing the founder and ceo. bill shihari, thank you for

being with us. >> thank you for having me >> well, for us you know it is primarily about innovation and that's what we are excited about and so we have our rigorous review process to go find the most innovative projects out there in the world part of the process is not just making sure technology and business models are innovated. we look at the founders and principles behind the project and we put them through a compliant review and we work through u.s. based lawyers who double check and ensure that it is something that we feel comfortable trade ng the united states >> you are doing the due di diligence that you are making available to buy >> that's right. >> in terms of who could do it and what's the ultimate goal, bill >> we started with the small select number of launch partners

and the idea right now is in this phase, we are stress testing our system and working with the banks closely to ensure that they can process the fiat process and withdrawals and the engeneral we use to trade is going to properly handle the load the idea is to expand out as many market as possible on bittrex and every customer on bittrex will be able to have access to u.s. dollars >> you have global competitors that don't have the same rules and regulations that you have to comply to. how do you at bittrex compete against other asian exchanges? >> for us, we have this commitment to compliance we think that solving the regulatory puzzle in the united states really unlocks a lot of capital that really can't trade

on a foreign exchange that does not have proper compliance so we think that we can add tremendous amount of values as we are working in the united states >> do you have to conform to the rules of security of exchange? i know it is a lot more paper work >> well, right today we trade things that are definitely not securities. that's one of the things that we screen for we want to ensure these are utility to utility tokens that we think are commodities. >> is ripple, where do you stand on nxrp though >> we don't like to speak about any individual token, we like to remain market neutral. ripple is one of the tokens is rate to exchange and it is

ongoing review >> from b.k. here, when i look at what you are doing here, it reminds me of the early trades and schwab i don't want to use the word bro brokeage firm than a lot of the exchange >> bittrex is looking on the institutional side of it i think you need to and for those of us who's thinking of the ecosystem long-term, we need to go out there and embrace the participan participants >> bill shihara of bittrex thank you. this is really the pick and shovel sort of approach to cover

the space. >> the last question is important for our viewers, last year i opened a coin based account. b.k. would say to me oh, this is interesting and i had to go to bittrex and hade to move bitcon over there to buy another token. the idea that he's focusing on a platform that's institutional. that's where you will g et the most innovation. giving people the access to this stuff, you need competition and push each other and we'll have the best tool to manage the risk in this. >> it was interesting to hear himdiligence that has been a big hang up. >> it has been i worked with bittrex on some of these coins and they do a good job on vetting some of these out. there are some exchange you can

get on and if you give them the money, you can get on the exchange that's not the case on bittrex >> coming up, one name traders are calling king of the cloud. i am melissa lee, you are watching "fast money." in the meantime, here is what else is coming up next on "fast. >> that's what biotech are doing. there is a key event that could send them higher and we'll tell you how to cash in plus, jack is back >> here is johnny! >> no, not that jack jack dorsey. we'll tell you which is the better bet now when asmoy""ft ne returns.

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in line of royalty you can tune in with cramer at the top of the hour. more than 20% and microsoft, that's up 18%. if you are looking for growth, you just look up, sam. >> well, i know jim and i suspect he's going talking about it i think it is important to think of software and service and you think of this company. mark bennett invented this they came after and then the guys at oracle who are doubters, they changed their business model going after benny. on a break out >> i agree usually first movers get swamped. this was a great core and the one thing that stuck out to me margins were north of 17%. so if you could continue to increase margins, i mean this

thing should break out despite the valuations that everybody knocks out >> looks like it is running out of gas to me the rest of them seems intact. how about one that i am surprised myself saying, ibm ,it down 7% year to date it is at support from 2017 ibm is a buy based on the cloud business >> time for the "final trade." >> it is a friday. >> brian kelly. >> you know early in the show, guy mentioned micron and he convinced me >> sam >> the snap chat looks like it is going to fill in the earnings gap. >> people at home don't see it carter was upset and he was upset when he walked away. everyday we -- >> he's not upset and he's over there laughing with mike >> anyway. >> well, i missed him at the

desk it was nice because i was curious of what he had to say. xilinx, that should not be trading and should be higher >> that does it for us here on "fast," see you back here on 5:00 don't move away. "options action" starts right after this (baby crying) (slow jazz music) ♪ fly me to the moon ♪ and let me play (bell ring)

we are live on a friday afternoon. the guys are getting ready behind me. why they are doing that, this is what's coming up on the show >> jack is back with shares about twitter and square are searching. plus, biotech is breaking out. it could spend the space higher. we'll tell you how to profit for less and --